(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Aug 27 (KUNA) -- Kuwait National Petroleum Company's (KNPC) expenditure for the next five years is likely to touch KD 3.5 billion (USD 11.6 billion), the company's CEO Mohammad Al-Mutiari said on Sunday.
In an interview with local Al-Rai daily, he said that such expenses are earmarked for ongoing projects as well as launching new ones, citing KNPC's total capital for the 2017-2018 fiscal year was at KD 6.1 billion (USD 20 billion).
On KNPC's total workforce, Al-Mutairi said that 6,281 employees had been registered as of August 13, while the company is expected to hire an additional 377 workers.
He also addressed a current gas line project with a production capacity of 805 million cubic feet per day and a total cost of KD 428 million (USD 1.4 billion), which entails separating methane and ethane gasses through a highly intricate process.
Al-Mutairi also spoke of the construction of new KD 210 million (USD 696 million) liquid sulfur treatment facilities in Al Ahmadi refinery and work to upgrade equipment in those storages.
On the local market's soaring demand for fuel, he noted that a warehouse in Al-Ahmadi area is currently undergoing rennovations at a cost of KD 75.6 million (USD 250 million), while a new facility will be built shortly in Al-Metla'a area.
THe KNPC CEO revealed plans to buld 100 new fuel stations to ensure adequate power supply amid growing urbanization in the country, saying that Al-Shuaiba refinery is now up for sale after all procedures have been completed. (end) aam.tb.lb
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